New development in future for Pumped-Storage Hydroelectricity

Posted by Govind TMR on September 13th, 2022

The pumped-storage hydroelectricity market is anticipated to grow at a CAGR of 10% and is likely to cross the cumulative installation around 300 GW in the forthcoming years from 2022 to 2032. Increasing efforts by the government toward the expansion of grid infrastructure are estimated to bolster growth opportunities in the pumped-storage hydroelectricity market in the foreseeable years. 

Strict regulatory reforms in order to reduce the emission of carbon are predicted to drive growth avenues in the market. Constant efforts for capacity expansion in order to meet the rising demand for power are expected to bolster sales opportunities in the pumped-storage hydroelectricity market.

Pumped-Storage Hydroelectricity Market: Key Trends

Rapid integration of renewable sources along with associated long-term benefits is projected to augment the interest towards increased adoption of PHS technology. In addition to this, high storage capacity, flexibility in power output, and ability to serve with low operational costs are likely to serve as pivotal factors to drive demand opportunities in the pumped-storage hydroelectricity market. Expansion of sustainable energy and an upsurge in the investments for capacity expansion is also predicted to increase the deployment of industry solutions.

On the flip side, the high initial investments have been projected to restrict expansion opportunities in the pumped-storage hydroelectricity market.

Pumped-Storage Hydroelectricity Market: Competitive Dynamics and Key Developments

The players operating in the pumped-storage hydroelectricity market are incorporating numerous strategies, for instance, portfolio expansion, collaborations, novel product launches, agreements, partnerships, acquisitions & mergers, and many more to propel novel growth opportunities in the forthcoming years.

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